At present, the trading volume is not large, and individual investors generally have a wait-and-see attitude. The Market sentiment is a bit depressed. The price of BTC returns to 39,000U and will show a sideways trend near 39,500U. The BTC contract long/short ratio is 1.13. Looking at the 4-hour line, the Golden Cross is obvious; Bollinger Band is opening upwards; MACD is moving above zero axis; the trend of KDJ and RSI tends to be horizontal; MA5 and MA10 overlap; now we have entered a congestion and distribution Area. As for the 1-hour line, the long and short battle is fierce. There would be a clear trend after 20:00 (UTC+8).
39,500U becomes an important point in the short term. If the price breaks through quickly, 41,200U might be a resistance. If failed, the price would be around 38,500U, and stop loss by 300U.
39,500U becomes an important point in the short term. If the price breaks through quickly, 41,200U might be a resistance. If failed, the price would be around 38,500U, and stop loss by 300U.